FICCI acknowledges tax reforms, calls for enhanced digital transformation of NBR The Foreign Investors Chamber of Commerce and Industry (FICCI) has welcomed the Taka 7,97,000 crore proposed budget for the next fiscal year (FY25). "On behalf of the Foreign Investors Chamber of Commerce and Industry (FICCI), we express our sincere gratitude to Finance Minister Abul Hassan Mahmood Ali for presenting the National Budget for the fiscal year 2024-25 in the Jatiya Sangsad today," the FICCI president Javed Akhter said in an immediate reaction on the budget in a press release. As FICCI closely examines Thursday's announced National Budget, the FICCI commended the government's efforts in crafting a comprehensive fiscal plan that addresses critical economic challenges while fostering a conducive environment for business growth, BSS reports.
With a keen focus on containing inflation, reducing aggregate demand, and nurturing the supply side of the market, this budget lays a strong foundation for stabilizing the economy, it said. The FICCI said the budget outlines several measures to control inflation and stabilize the economy, including tightening monetary policy by raising interest rates to 8.5 percent.
The Standing Lending Facility (SLF) and Standing Deposit Facility (SDF) rates have been set at 10pc and 7pc, respectively, to curb inflation by reducing money supply and encouraging savings. Additionally, it said substantial investments aim to boost agricultural productivity by 20pc and i.